Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4514 N Harlem Avenue Norridge, IL 60706

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    14,558 SF junior box on heavily trafficked Harlem Avenue.

    Type:Retail
    Property size:
    14,558 SF
    Added:
    Mar 7, 2026
    Days on Market:
    46
    Last Refresh:
    Mar 7 at 7:05 pm

    Property Features for 4514 N Harlem Avenue

    General Information

    Standard status
    Active
    Size
    14,558 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Paul Bryant
    Paul Bryant

    Listing agent Paul Bryant License #471008163

    Listing office Mid-America Real Estate Group | Chicago

    Listing date Mar 7, 2026

    Source Midamericagrp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mid-America Real Estate Group | Chicago

    Overview

    Harlem Avenue Retail Opportunity

    This 14,558 square foot retail space offers a rare junior box opportunity situated on the heavily trafficked Harlem Avenue corridor. The property features a barrel truss roof with minimal column interference. It is surrounded by established retail businesses, including The HIP, which generates approximately $400 million in annual sales. Ample surface parking is available, with full access onto North Harlem Avenue, which sees a traffic volume of 28,900 vehicles per day. The property also presents a double pylon sign opportunity on Harlem Avenue.
    Location Intelligence

    Current Use by Public Records

    Smoke-Stock & Chimney Cleaning ... Hardware & Home Improvement JOANN Fabric and Crafts (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.8082126
    Latitude
    41.9621562

    Nearby Similar for Sale

    • $799,000

      Norridge Multi-Family Opportunity

      Multi-family property for sale in Norridge, Illinois.
      4532 N Nottingham Avenue, Norridge, IL 60706
      View Details
    • $149,500

      Profitable Salon/Spa Business Opportunity

      Modern salon/spa business for sale in Norridge, Illinois.
      4701 N Cumberland Avenue, Norridge, IL 60706
      View Details
    • $857,000
      9,000 SF

      Norridge 5-Unit Brick Building

      Five-unit building in Norridge with income upside potential.
      8121 West Lawrence Avenue, Norridge, IL 60706
      View Details
    • $3,800,000

      Norridge Food Processing Facility

      Food processing and distribution facility in Norridge, Illinois for sale.
      7020 W Cullom Avenue, Norridge, IL 60706
      View Details
    • $4,900,000
      47,792 SF

      Mixed-Use Property with Retail Building

      Mixed-use property featuring apartment units, retail spaces, and building.
      7701-7757 W Lawrence Avenue, Norridge, IL 60706
      View Details
    • $499,000
      14,169 SF

      Versatile Industrial Building with Office

      14,169 SF building with office space in Norridge, IL.
      7004 W Cullom Avenue, Norridge, IL 60706
      View Details
    • $4,900,000

      Mixed-Use Investment Opportunity in Norridge

      High-performing mixed-use portfolio with residential and retail units.
      7701-7757 W Lawrence Avenue, Norridge, IL 60706
      View Details
    • $4,900,000
      47,792 SF

      Norridge Mixed-Use Investment Portfolio

      Three-building portfolio with residential and retail units, value-add potential.
      7757 W Lawrence Ave, Norridge, IL 60706
      View Details

    FAQs

    What type of property is this?
    Retail space - 14,558 SF junior box on heavily trafficked Harlem Avenue.
    Where is this retail space located?
    The property is located at 4514 N Harlem Avenue Norridge, IL.
    What are key features of this property?
    This property features: High‑traffic location on Harlem Avenue (28,900 VPD); Rare junior box availability (14,558 SF); Surrounded by strong retail synergies, including The HIP (~$400M in annual sales)
    (630) 954-7354
    We can help!
    Listing Contact
    Paul Bryant
    Paul Bryant
    Real Estate License ID: 471008163
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!